The oldest Baby Boomers in this huge generation are getting ready to turn 65 in 2011. Although this has traditionally been the age of retirement, many of these Boomers aren’t ready – financially or just emotionally – to retire from their jobs. There are plenty of reasons for this, including some of the following:

- Some Baby Boomers lost a lot of their retirement savings in the recent financial crisis and simply don’t have the money to retire on. These Boomers find that they need to work for a few more years before they’ll actually be ready to retire.

- Other Baby Boomers got too caught up in their have-it-now lifestyles and simply didn’t save enough for retirement. Now, they’re finding that they have to keep working so they can save for a later retirement in another ten years or so.

- Some of this generation simply wants to keep working, at least part time, because they find fulfillment in their work.

- Others have racked up too much debt over their lifetimes to become free enough for retirement. Baby Boomers are the first generation to really struggle with consumer debt at such a high level, and now they’re paying the price with delayed retirements.

These reasons, of course, don’t sum up all Baby Boomers. Some have been responsible their entire lives, have had good luck investing, and are going to be retiring and starting their golden years this year. However, many Baby Boomers are doing some of the following instead of retiring completely:

- Some Boomers have some good savings for retirement, but they’re planning to take a few more years to work on paying down debt. Many have high consumer debt and need to cut back on credit card spending so that their retirement savings will be adequate when they finally do get there.

- Some are cutting back on their hours at work or taking a short retirement only to jump back into the workforce part time in a few years. For these, the reasons are varied. Some simply enjoy working and would rather have a job than stay at home and spend just their retirement money. Others, though, need a part time income to supplement their withdrawals from retirement savings accounts.

- Many Baby Boomers are seeking further training in their industries to stay on top of the latest developments in their fields. For those who need or want to continue working for several more years, this is vital. Otherwise, Baby Boomers in nearly every major field risk being pushed out by younger recruits in the coming months and years.

- Plenty of younger Baby Boomers are actually seeking a career change right now. Many are finding themselves back in school or in new training programs for a different part of their industry or a new industry altogether. Unprecedented good health into old age means that younger Boomers may have a couple decades left to work, which means that a career change isn’t entirely a bad thing!

No matter what you find yourself wanting to do as a Baby Boomer nearing retirement, make sure you plan your retirement well. For instance, if you plan to live solely on your retirement income, have a financial planner go over a plan with you so that you ensure you can actually afford to do this. If you want to work part time, be sure you can make enough to support your needs without making so much that you miss out on potential retirement benefits. Careful planning and debt management will ensure that your golden years really are golden, whether you choose to spend them in the garden, on the golf course, or as part of the workforce.

Abigail Hall is a personal finance writer from Indiana.  She contributes frequently at CreditDonkey.  Her parents are retiring soon and she is witnessing first-hand the impact of the recent financial crisis on her family.  She shares her experience along with credit card tips, news and reviews.